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FRIDA
APRIL 19, 1985 19. 1985
HONG KONG'S BUSINESS PROSPECTS STRESSED
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HONG KONG WILL CONTINUE TO BE A PLACE OF TREMENDOUS OPPORTUNITIES FOR BUSINESS INITIATIVES BECAUSE OF ITS UNIQUE POSITION IN THE REGION, IN PARTICULAR ITS PROXIMITY TO CHINA, AND BECAUSE OF THE AGREEMENT ON ITS FUTURE, THE DIRECTOR OF INDUSTRY, MR JOHN YAXLEY, SAID TODAY (FRIDAY).
MR YAXLEY WAS SPEAKING AT A SEMINAR AT HANOVER IN GERMANY, ORGANISED BY THE INDUSTRY DEPARTMENT AND CO-SPONSORED BY THE HONG KONG TRADE DEVELOPMENT COUNCIL AND THE HONG KONG AND SHANGHAI BANKING CORPORATION.
THE INDUSTRY DEPARTMENT IS TAKING PART IN THE FAIR, IN WHICH IT HAS A STAND.
+WE HAVE A LONG HISTORY OF DOING BUSINESS WITH CHINA, AND AS A RESULT OF OUR ACCUMULATED EXPERIENCE ARE PERFECTLY PLACED TO OFFER A UNIQUE SERVICE TO THOSE FROM ELSEWHERE, INCLUDING EUROPE WHO ARE SEEKING TO ESTABLISH CONTACTS WITH CHINA FOR THE FIRST TIME, THE DIRECTOR SAID.
POINTING OUT THAT CHINA IS HONG KONG'S SECOND MOST IMPORTANT TRADING PARTNER AFTER THE U.S.A., MR YAXLEY SAID I BELIEVE THAT IT IS IN THE PROVISION OF SERVICES TO CHINA AND IN ITS ROLE AS A LINK BETWEEN CHINA AND THE REST OF THE WORLD THAT SOME OF THE MOST SIGNIFICANT DEVELOPMENTS IN THE RELATIONSHIP BETWEEN HONG KONG AND CHINA WILL OCCUR.
THE RECENTLY SIGNED AGREEMENT ON HONG KONG'S FUTURE SHOULD FOSTER EVEN GREATER SINO-HONG KONG TRADE BY CLARIFYING THE RELATIONSHIP BETWEEN THE TWO ECONOMIES, INCLUDING THE IMPORTANT ROLE TO BE PLAYED BY HONG KONG IN CHINA'S FOUR MODERNISATIONS POLICY, HE SAID.
MR YAXLEY SAID THAT THERE HAD BEEN A FUNDAMENTAL SHIFT IN THE CENTRE OF GLOBAL ECONOMIC ACTIVITY FROM THE ATLANTIC TO THE PACIFIC, AND THIS HAD ALREADY BEEN RECOGNISED BY THE U.S. AND OTHER COUNTRIES ON THE PACIFIC RIM, SUCH AS AUSTRALIA, CANADA AND JAPAN.
+THE U.S. AND JAPAN, MORE THAN ANY OTHER INDUSTRIALISED NATIONS, HAVE ALSO RECOGNISED THE INDUSTRIAL OPPORTUNITIES OFFERED BY THE REGION. IN ALL THIS ACTIVITY WESTERN EUROPE SADLY PLAYS A VERY SMALL PART AND IT IS PERHAPS TIME THAT MORE PEOPLE IN THIS PART OF THE WORLD WOKE UP TO THE OPPORTUNITIES AND POSSIBILITIES BEFORE IT IS TOO LATE, HE SAID.
MR YAXLEY SAID THE AGREEMENT PRESERVED THE ESSENTIALS FOR HONG KONG'S INTERNATIONAL AND ECONOMIC RELATIONSHIPS AND PROVIDED FOR THE RETENTION OF THOSE FEATURES WHICH HAVE HELPED IT TO BE "O SUCCESSFUL.
NOTE TO EDITORS1
COPIES OF THE DIRECTOR'S SPEECH WILL BE BOXED LATER TODAY.
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